SAVE252 Frequently Asked Questions

To read our IRA FAQ click here

To read our SEP IRA FAQ click here

Is My Money Safe?
Are My Funds FDIC Insured?
Do You Use SSL (Secure Sockets Layer)?
Where are all the servers and information stored?
How does my money get transferred from my bank account to my SAVE252™ ?
Where is my money invested?
How is my money invested?
How much will my money earn?
What do I need to get started?
What do I have to do to close my account?
What are the fees associated with SAVE252™ ?
How much can I save for retirement?
Do I qualify for an IRA?
How can I protect my personal information?


Is My Money Safe?
About the Investment

Your contributions will be invested in mutual funds. Mutual funds involve risks and fluctuate in value, depending on the performance of the underlying securities. For complete details regarding these risks please read the prospectus carefully before investing. Mutual funds are not FDIC insured.

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Are My Funds FDIC Insured?
About the Investment

No. Mutual funds are not FDIC insured. However all Securities on this site are offered through SAVE252 member NASD/SIPC. As a Member of SIPC (Securities Insurance Protection Corporation) www.sipc.org your account is protected and insured up to $500,000 (including $100,000 for claims of cash).

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Do You Use SSL (Secure Sockets Layer)?

Yes. All of your information is kept confidential using 128 SSL bit encryption technology.

SSL is short for Secure Sockets Layer, a protocol developed for transmitting private documents via the internet. SSL uses a cryptographic system that uses two keys to encrypt data: a public key known to everyone and a private or secret key known only to the recipient of the message. The information you enter can only be read by SAVE252.

It is important because Secure Socket Layers is vital for protecting your private information. Every email that you send, every website that you visit, every piece of data that leaves your computer can be seen by more than just the intended recipient UNLESS IT IS SECURELY ENCRYPTED. SSL is the protocol or standard for internet security, and working without it is akin to leaving your car unlocked in a bad neighborhood.

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Where are all the servers and information stored?

All servers are stored underground with the highest security and best amenities:

  - Carrier-class hosting facilities with customized design, expedient implementation, power and back-up power supplies, temperature and humidity controls and fire sup-
     pression systems
  - 24/7 onsite physical security - including armed security guards, motion detectors, security cameras, individually locking cabinets and cages and card-key access
  - 24/7 monitoring of systems and services
  - 24-hour security access required with security escort where necessary

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How does my money get transferred from my bank account to my SAVE252™ ?
Your funds are transferred using ACH, which stands for Automated Clearing House. This is a secure, private electronic payment transfer system that connects all U.S. financial institutions. Direct paycheck deposits and your bank debit card purchases are two examples of electronic fund transfers that go through the ACH network.

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Where is my money invested?
About the Investment

Your SAVE252 account will be invested in a mutual fund that you select for your account. You decide how long you want to invest and we will provide you with a fund that is the closest fit. Using a mix of stocks, bonds, and short-term your fund will be more aggressive when you're younger but automatically become more conservative as you approach the time when you will need to use your money.

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How is my money invested?
About the Investment

We use only Age Based Mutual Funds also called Life Cycle Funds. These funds invest your money in a mix of stocks, bonds and other standard investing options. The funds are managed to be more aggressive when you're younger and have time to ride out market fluctuations and they are managed more conservatively as you near retirement. All you need to do is pick the fund with a target retirement date closest to when you want to retire, and expert money managers do the rest. (For complete details of risks, suitability and fund objectives, please read the prospectus before investing.)

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How much will my money earn?
About the Investment

Unlike savings accounts that pay a stated interest rate, your investment will fluctuate based on the performance of the underlying mutual fund shares. Historically, returns on a diversified portfolio of stocks, bonds and cash has out performed risk free alternatives like certificates of deposit and interest baring savings accounts. However, past performance is not a guarantee of future results. (Read the prospectus for risks associated with the fund before investing. Mutual funds are not FDIC insured.)

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What do I need to get started?
Through our Automated Account Application ("AAP") you can open Individual or Joint Accounts, Traditional IRA's, SEP IRA's and Roth IRA's. When you open an Account, AAP will ask you to input your name, address, date of birth, and social security number that will allow us to identify you. This is required to help the government fight terrorism and money laundering activities. Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. This information is transmitted using Secure Sockets Layer ("SSL") encryption technology and is used for the sole purpose of setting up your account (click here to read our privacy statement).

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What do I have to do to close my account?
Log-in to your account and click the "distribute" button. All your money will then transfer back into your bank account within 72 business hours. We may charge a $25.00 termination fee.

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What are the fees associated with SAVE252™ ?
Our all inclusive fee of $1 a week is debited directly from your bank account and will cover all of the services required to maintain your account. (Please read the prospectus for complete information concerning fees and expenses of the fund).(Please read the prospectus for complete information concerning fees and expenses of the fund).

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How much can I save for retirement?
It depends on your age and the amount that you can save each day. We suggest you use one of the calculators in our learning center to get a number that is specifically for you.

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I already have an IRA with another company. Can I have more than one?

Yes. Actually you can have as many as you like with one important note: you can only contribute a maximum of $4,000 per year. You can contribute that to one IRA or more than one, but only $4,000 max.

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Do I qualify for an IRA?
Anyone with income qualifies for an IRA. Even if you are covered under an employer sponsored plan (like a 401k) you still qualify.

However, there are limitations on the deductibility of your contributions.

For example:Read our IRA FAQ for more information about IRA's.

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How can I protect my personal information?

FTC:

Please click here for the FTC's national education campaign - AvoID Theft: Deter, Detect, Defend - empowering consumers to protect themselves against identity theft and to minimize the damage it can cause. Through the program, the FTC provides necessary tools to enable anyone - regardless of existing knowledge about the issue - to effectively educate others. For more information, please read a brief overview of the campaign.

FDIC:

Please click here for an FDIC Presentation on Identity Theft.

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